On July 31st 2017; Resource Générale Corporation (“RGC”) a U.S. Company and its partner company “Sono” (the U.S Partners/ Not Haitian Partners) had entered into a series of agreements with 3D Resources Ltd to earn 70% of the U.S. Partners’ subsidiaries in Haiti, upon 3D Resources and its nominee subsidiary met the define milestones under the terms of the July 31st 2017 agreements; and if these set of milestones are completed successfully, 3D shall earn another 5%. As a condition of the Agreements the parties have agreed to a 50/50 Board Control of the company oversight operation.
On May 18th, 2018; the U.S Partners’ Counsel terminated the agreement with 3D Resources for a series of reasons as previously described on previous press releases.
On September 16, 2018 – the parties have signed a propose change acquisition document pursuant to a series of conditions including but not limited to a Mutual release agreement from the termination of May 18, 2018 claims.
Therefore the new summarize “two key principal condition terms” of the new acquisition consideration agreement of September 16, 2018 are:
- the manager from the previous terminated agreement cannot hold any managerial position and can only serve as consultant geologist
- the Notes payments must be satisfied and paid by September 24th, 2018.
On September 19, 2018. The parties have signed a Mutual Release of all liabilities to the companies and each other; the companies and each have release and discharge of all claims related to the companies against each other. which also referred to the 3D Resources posting press release September 27, 2018 “Haiti Resolution Dispute” – https://www.asx.com.au/asxpdf/20180927/pdf/43yqn3nq0x8pgd.pdf of which 3D forfeited any investment and services made by 3D resource in return for the company not to file actions against 3D Resources.